On the long and exciting journey to home ownership, there are a lot of things to do.  From finding that perfect house in the perfect location for schools, commuting, and other conveniences, to envisioning how you’ll decorate, renovate, and enjoy your new place it can seem like quite a long time, but there is a finish line; the closing

Getting to the closing table is the final step before your home officially becomes your home.  However, before sitting down to sign, initial, and collect your keys there are few things you’ll want to do to ensure a smooth, easy closing.

Take a Final Walk Through

In many instances, you’ll be able to take a final walk through.  This allows you to make sure that the house is in the agreed to condition that is stated in the sales agreement.  You’ll also be able to confirm that any repairs or other contingencies have been made and met.

Ensure All Contingencies Have Been Addressed

Speaking of contingencies, make sure that these common ones have all been made to your satisfaction. 

·         Home Inspection Contingency

Every buyer should have a professional home inspection done before they agree to purchase.  Any findings should be addressed as part of the purchase agreement.  The inspection typically costs a few hundred dollars but could end up saving you thousands in future repairs. 

·         Appraisal Contingency

This contingency is done by a third party hired by your lender.  The purpose of this contingency is to determine and evaluate the fair market value of the home you are considering.  If the appraisal comes back with a value lower than the sale price, you would be able to get out of the deal without forfeiting any money.

·         Financing Contingency

This contingency allows you to have the right to back out of a purchase if your mortgage arrangement falls through.  From the time you agree to purchase, you’ll have a specified amount of time to arrange funding.  This is why it is a very good idea to get pre-approved before you begin the house buying process.

Prepare the Following Documents

The following items will be needed at your closing:

·         Proof of homeowner’s insurance

·         A copy of your purchase agreement

·         Your home inspection reports

·         Any paperwork that your lender requires

·         A government-issued photo ID